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Property profile & analytics
OFF-MARKET
Estimated value
$1,100,000
Grocery and convenience stores
832 State Of Franklin Rd Johnson City, TN 37604-3667
Entity Owned
9-yr Hold
Free & Clear
Property ID
US80-1333984
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,875 SF
Lot
1.36 ac (59,242 SF)
Zoning code
R-4
APN
045M F 01100
UPID
US80-1333984
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
bp Gas Station
-
ATM - Road Runner Atm
-
First Tennessee Bank - ATM Atm
-
Roadrunner Market Grocery & Convenience Store
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.21M
Blend (final)
Blend
$1.10M
Owner & transaction history
National Retail Props INC · 9 yrs held
National Retail Props INC
since 2017
5 recorded transactions
Zoning & alternative use
R-4 · Johnson City, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+64.6%
Commercial (general)
$900,000
+40.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Johnson City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Johnson City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$1,050,000
Change: +65% · Conversion: Difficult
COMMERCIAL (GENERAL)
$900,000
Change: +41% · Conversion: Easy
Blend value · Realmo final
$1.10M
Range $990k – $1.21M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$140 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$403,720
Assessed 2023
Previous assessed
$403,720
+0.0% YoY
Assessed land
$272,960
Assessed improvement
$130,760
Land market value
$682,400
Improvement market value
$326,900
Total market value
$1,009,300
Applied tax rate
90.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Units
1
Rooms
1
Bathrooms
1
Total area
7,875 SF
Lot
1.36 ac (59,242 SF)
Zoning code
R-4
APN
045M F 01100
UPID
US80-1333984
Jurisdiction
WASHINGTON
Zoning & alternative use
R-4 · Johnson City, TN
Zoning R-4 · permitted uses
R-4 · Johnson City, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Johnson City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$900,000
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Rooms
1
Bathrooms
1
Lot
1.36 ac
Current owner
From public records · entity-resolved
National Retail Props INC
Entity
Free & Clear · 9 yrs held
Mailing address
1410 COMMONWEALTH DR STE #202, WILMINGTON, NC 28403-0377
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 5, 2017
$1,475,416
National Retail Props INC
Qp Holdings II LLC
Grant Deed
—
Jul 12, 2016
—
Qp Holdings II LLC
Quality Properties Gp
Quit Claim Deed
related
—
Mar 8, 2011
—
Quality Properties Gp
Mountain Empire Oil Co
Quit Claim Deed
related
—
Oct 29, 2007
—
Mountain Empire Oil Co
State Of Franklin Props LLC
Quit Claim Deed
related
—
Feb 12, 1996
$280,000
State Of Franklin Properti
—
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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